Sanctions – Page 26

March 27, 2007

Colin McAskill Threatens to Sue Over Release of Funds to DPRK Gov’t

McAskill, the man who sells Kim Jong Il’s gold and who recently bought the bank through which most of North Korea’s European investment is channeled, has heretofore been a strident and articulate advocate of releasing the $25 million frozen in BDA. Overnight, he has become the main obstacle: In two letters sent to the Monetary Authority of Macao, [Daedong Credit Bank] has said that it will take legal action if any of its frozen funds are moved in accordance with...

Counterfeiting/Diplomacy/Money Laundering/NK Economics/Six-Party Talks/WTF?

March 27, 2007

As N. Korea Reverts to Form, Hill Warns Kim Jong Il

Via Richardson: The U.S. envoy to the North Korea nuclear talks said Monday that Pyongyang needs to meet international standards, especially in human rights, in order to have relations with Washington. “It’s a price of admission to the international community,” Assistant Secretary of State Christopher Hill said. [Yonhap] Does this encourage me? I’m not sure. It’s not a bad thing that Chris Hill is tipping his hat comb-over in this direction, although “international standards, especially in human rights” are a...

Diplomacy/Money Laundering/WMD

March 24, 2007

Anju Links for 3/24: Another Stolen Life, More Measles in N. Korea, Cowardly Capital, and the Diplomacy of Blame

* Doina Bumbea, artist, 1950-1997. From this photo, it’s almost as if she could foresee the tragedy of her own life. The circumstantial proof seems strong, though not conclusive, that the North Koreans lured Doina from Bucharest to Japan and kidnapped her for the use of U.S. Army deserter James Dresnok, who by all accounts is an utterly comtemptible person. But Doina’s family, which didn’t know what happened to her for all these years, seems convinced. And there’s...

Abductions/Diplomacy/Famine & Food Aid/Money Laundering/Six-Party Talks/WMD

March 22, 2007

So Much for ‘Peace in Our Time’

[Sorry for the earlier comments glitch; please e-mail me if you have problems.] OK, now the diplos have flown home. Talks on halting North Korea’s nuclear program broke down abruptly on Thursday with the country’s chief nuclear envoy flying home after a dispute over money frozen in a Macau bank could not be resolved. Kim Kye Gwan flew out of Beijing after refusing to take part in six-party talks to push forward a February agreement calling for North Korea...

"United" Nations/Counterfeiting/Diplomacy/Money Laundering/Russia & Korea/Six-Party Talks/WMD

March 20, 2007

N. Korea Boycotts Talks Over Funny Money Proceeds

[Talks stall; See updates below] BEIJING – International talks on North Korea’s nuclear program stalled again Tuesday, with Pyongyang refusing to take part until it receives $25 million from a bank blacklisted by the United States, Japan’s chief envoy said. Kenichiro Sasae said a meeting scheduled for Tuesday afternoon between the chief delegates of the six nations involved in the disarmament talks was canceled because Pyongyang refused to attend. “There was no progress at all today,” Sasae said. “China as...

Counterfeiting/Diplomacy/Money Laundering/NK Economics/Six-Party Talks/WMD

March 18, 2007

Ill-Gotten Gains: Who Still Remembers Resolution 1718?

[Scroll down for updates.] (d) all Member States shall, in accordance with their respective legal processes, freeze immediately the funds, other financial assets and economic resources which are on their territories at the date of the adoption of this resolution or at any time thereafter, that are owned or controlled, directly or indirectly, by the persons or entities designated by the Committee or by the Security Council as being engaged in or providing support for, including through other illicit means,...

"United" Nations/An Alliance?/Appeasement/Counterfeiting/Money Laundering/Six-Party Talks/WMD

March 16, 2007

N. Koreans May Have Given U.N. Counterfeit $100 Bills

[A] new twist now emerging in the Cash-for-Kim scandal is that while the UNDP has been giving Kim real money, Kim’s regime may have been handing over counterfeit banknotes to the UNDP–which apparently had a stack of counterfeit $100 bills sitting in its office-safe in Pyongyang. [National Review] We owe this revelation to — who else? — Claudia Rosett.

"United" Nations/Appeasement/Counterfeiting/Money Laundering/NK Economics/WTF?

March 13, 2007

Breaking the Bank in Macau

[Updates: You can read Treasury’s final rule here. Start on page 14 to read just what Banco Delta failed to do to Treasury’s satisfaction. The message for North Korea’s other bankers out there is clear: ask obvious questions. Among BDA’s practices, according to the rule, was to provide a discount for a “high-risk North Korean-related bulk currency depositor” they either knew, or should have known, was laundering money. BDA obfuscated about reforms, failed to change its corrupt management, and didn’t...

China/Counterfeiting/Democracy/Money Laundering

March 13, 2007

The Worst Friend, The Best Enemy

[Update: My worst fears are coming true. Now the opposition Grand National Party is trying to soften up its North Korea policy as it braces for a summit visit from Kim Jong Il and a presidential election this year. One possible effect is that the GNP’s own perpetual appeaser, Sohn Hak-Kyu, could become the new flavor of the month.] One of the disadvantages of appeasing North Korea is that the North Koreans are so despised and distrusted, you can...

Appeasement/Counterfeiting/Diplomacy/Geopolitics/Money Laundering

March 9, 2007

Peace in Our Time! Financial Edition

North Korea’s top nuclear negotiator Kim Kye Gwan said Thursday that Pyongyang’s decision to halt nuclear facilities, as outlined in initial steps included in the Feb. 13 six-way agreement, will depend on the U.S. lifting of financial sanctions against North Korea. [Kyodo News; ht Richardson] The U.S. negotiator at the six-party talks, Chris Hill, once said that “[l]ife is too short to overreact to every statement coming out of Pyongyang.” It’s true that the North Koreans do more than their...

"United" Nations/Counterfeiting/Diplomacy/Google Earth/Money Laundering/Terrorism (NK)/WMD

February 11, 2007

¿Plata o Plomo?

That title, btw, is a tip of my sombrero to my many Spanish readers today. As I write, the latest efforts to talk North Korea out of its nukes appear to be making exactly as much progress as they’ve made for the last 15 years. It’s at least comforting to see our government moving forward with other options. Most of those come in the forms of long-overdue appropriations for budget authorizations from the North Korean Human Rights Act of 2004:...

Counterfeiting/Deprogramming/Money Laundering/NK Economics/Refugees

January 30, 2007

Wobble Watch

President George Bush has told the Treasury Department, which has been handling financial sanctions regarding North Korea, to cooperate with the State Department regarding the six-party talks, sources in Washington said. Nevertheless, the cooperation comes with a catch. Washington has said the Treasury Department should cooperate only when Pyongyang promises at the next round of the six-party talks to take measures to “disable” its Yongbyon nuclear reactor. [link] Later, the article specifies that “disable” means something irreversible that falls short...

Counterfeiting/Diplomacy/Money Laundering/NK Economics/Six-Party Talks

January 29, 2007

Deceptive Headline Watch: Yonhap

You don’t get self-fisking journalism very often, but here’s one that just falls off the bone like an overcooked roast (mmm, roooast). Here’s the headline: U.S. must choose between sanctioning N.K. and compromising for denuclearization: report Well, what are we supposed to take from that, I wonder? It could only be that inexplicable American obsession with people counterfeiting its currency that’s preventing us from denuclearizing North Korea.Until you read the actual quote, which says: “Currently the (George W.) Bush administration...

Counterfeiting/Money Laundering/NK Economics/Six-Party Talks/WMD

January 21, 2007

Somewhere in Hell, Josef Goebbels Is Smiling: Klaus Bender’s Big Lie

Update: In my visitors’ log today: Original Post: You may recall that a few weeks back, I noted that the Korean press had picked up a story from the Frankfurter Allgemeine Zeitung, one that many of its readers will no doubt be eager to believe. The story reported that North Korean supernotes are actually made by the CIA at an undisclosed location near Washington, D.C. Not being much of a German linguist, I made myself a reminder to find an...

Anti-Americanism/Counterfeiting/Europe/Media Criticism

January 10, 2007

German Newspaper: Supernotes Are a CIA Plot!

Things sure have gotten strange over in the Soft Reich when a major German newspaper, the Frankfurter Allemaigne Zeitung, theorizes — in a complete evidentiary vacuum, too — that North Korean supernotes are actually a secret CIA plot run from from a printing house in the DC area (Korean link). The sole basis for this novel theory, besides the unshakeable conviction that George W. Bush must be responsible for all evil on earth, is that counterfeiting is simply too complex...

Anti-Americanism/Counterfeiting/Europe/WMD

January 9, 2007

Kim Jong Il Unplugged, Part 17

After North Korea showed up at last month’s disarmament talks just long enough to give the United States the finger, you wouldn’t expect us to go wobbly on our financial measures against North Korea’s financing of WMD’s, counterfeit currency, and other illegal proceeds. With the passage of U.N. Security Council Resolutions 1695 and 1718, those measurements have become requirements. The good news is that we’re not going wobbly. Treasury, mainly in the physical form of Undersecretary Stuart Levey, has been...

"United" Nations/Axis of Evil/Counterfeiting/Iran/Money Laundering/NK Economics/WMD

December 20, 2006

OFK Exclusive: N. Korea to Charge Crafty Yodok Inmates With Running International Counterfeiting Ring

The U.S. has said the question of North Korea’s frozen accounts in the Macau-based Banco Delta Asia could be resolved early if North Korea punishes counterfeiters of U.S. dollars and destroys their equipment. [link] Firing squads and bloody handshakes to follow, and my sources tell me there may even be a ceremonial steamrolling of the HP Laserjet that was the center of this dastardly plan. I dare you to figure out where the satire ends and the “news” begins: Ever...

Counterfeiting/Diplomacy/Money Laundering/Six-Party Talks

November 20, 2006

Wobble Watch: Has China Unfrozen Blocked North Korean Accounts?

The State Department is saying it doesn’t know if the reports are true; it’s telling reporters to ask the Chinese: A diplomatic source in Beijing said China has released some of the North Korean money at Macau’s Banco Delta Asia (BDA), frozen after the U.S. Treasury in September last year designated it a primary money laundering concern abetting Pyongyang’s illicit activities. The unfrozen accounts, less than half of the US$24 million initially held up, are believed to be those not...

China/Counterfeiting/Diplomacy/Money Laundering

Category: Sanctions